Do You Have Enough Insurance to Protect the Things That You Own?

As you get ready to prepare the papers that you need for filing this year’s income taxes, it is that time when it is easier to take stock of what you have. Making sure that you are able to protect the assets that you have is often a matter of having the right insurance policies. From condo insurance to motorhome insurance to different types of car insurance, it is important to make sure that you are fully covered in the event of a fire, theft, or other kind of disaster. And while purchasing a policy can often seem like a lot of expense up front, it is important to know that the investment that you make in these policies can help you in the future.
From term life insurance policies for life to renters insurance for those who live in apartments, making the decision to find a policy that you can afford can help you work your way through an unexpected situation or a devastating event. Finding the right policy can help you be prepared when the unexpected happens. Consider some of these facts and figures about the condo insurance industry and the other avenues that can help Americans prepare for the unexpected and prepare the protect the property that you have:

33% of Americans indicated that they needed more life insurance when they were surveyed in the year 2015, as reported by LIMRA, a worldwide research, consulting, and professional development organization.

5.3% of insured homes had a claim in the year 2014, according to Insurance Services Offices (ISO). Of these claims, 97.3% of these were for property damage, including theft.

52% of homeowners said they had an inventory of their property in a June 2015 Insurance Information Institute (I.I.I.) survey.

57% of all people in the U.S. were covered by some type of life insurance in the year 2014, according to LIMRA?s 2015 Insurance Barometer Study.

33% of people are not buying life insurance or increasing what they have because they do not like thinking about death, according to the 2015 Insurance Barometer Study.

Although 60% of Americans say they own life insurance, nearly 50% of them may have insufficient coverage to address the financial needs of their family upon their demise, according to the 2015 Bankrate Money Pulse survey.

Making sure that you are able to recover from an accident or an unexpected disaster often depends on the insurance policies that you have in place. Be being prepared for the unexpected can help you find the resources that you need when you are looking for a fresh start. Whether you are thinking about life or condo insurance, it is important to make sure that you get quotes from several different agents on a number of policies.